In the fifth episode of the #TVLawyer Podcast, Melinda Giles talks to Giles Wilson Associate and integral member of our Private Client department Demi Trunks about the complexities of probate sales and transfers.
The responsibility of managing a loved one’s property on behalf of their estate is a great honour. But without proper legal guidance, things can go wrong that leave executors personally liable.
As knowledgeable members of Giles Wilson's Private Client team, Melinda Giles and Demi Trunks talk about how they guide executors through the complexities of probate sales and transfers, and the ways they work to protect the wishes of loved ones and their beneficiaries.
In this episode, they discuss:
What to think about when selling a probate property
The importance of getting an accurate house valuation
What Inheritance Tax is and when it must be considered during a sale
Capital Gains Tax and what can be done to minimise these fees
The value of professional legal advice throughout this process
Common disputes that can arise between executors, and how to address them
How executors can legally decide to let out a probate property
Dynamics to consider with probate sales and merged families
What the Declaration of Trust is and why it is so powerful for joint homeowners
Listen to their thoughts on these topics and much more – watch Episode 5 of the #TVLawyer podcast now on YouTube.